I’ve said it before, and I’ll say it again: President Bush will get *all* of the bad news out into the Public purview before he leaves Office, so as to give his successor an easier job.
Not that I think the Feds should take over Lehman, but if they arrainge a “Bear STearns like” sale, that would not be too bad. Shareholders/employees of Bear got hit pretty hard, not much of a bailout. On Jan 1, Bear stock was at $85, June 2nd, sold for $10. The Federal Reserve did take on more risk to hold risky assets, but Bear is now owned by JP Morgan, not the US govt.
President Bush will get *all* of the bad news out
This is not driven by W.
This is completely market driven.
He and his people can only react.
“President Bush will get *all* of the bad news out “
This has nothing to do with Bush. If the President actually had this much power God help us.